Sure. Rapid cycling just means that you have more episides in a year, so that often the episodes just don't last as long as someone who doesn't have rapid cycling.

Then again. Maybe not. Someone could not be rapid cycling but have a week of mania within a year and a month of depression. Someone with rapid cycling might have 3 occurances of (hypo)mania that last about a week each, and maybe 2 episodes of depression that last 2 months each. Or not! All rapid cycling means is that you have 4 or more episodes within a year.

You could still have very intense (hypo)manic episodes or very low depressions.